This article summarizes cryptocurrency news for April 2, 2026, focusing on the latest updates on Bitcoin, the Ethereum upgrade, Dogecoin price trends, real-time crypto prices, and price predictions, etc. Today’s major events in the Web3 space include:
1、Drift Protocol suffers a new type of attack, losses of about $280 million; management control taken over
In a statement, Drift Protocol said that earlier, a malicious actor gained unauthorized access using a new attack method involving a durable nonce, quickly taking over the management permissions of the Drift security committee. The attack method was highly complex; the attacker spent weeks preparing, using a durable nonce account to pre-sign transactions to enable delayed execution. Current investigations show that this incident was not caused by vulnerabilities in the Drift protocol or smart contracts, and there is no evidence that the attacker stole mnemonic phrases. The attacker is believed to have obtained access via unauthorized or forged transaction approvals, potentially involving social engineering techniques. The attack resulted in approximately $280 million in funds being withdrawn from the protocol, affecting all lending funds, gold vault deposits, and trading funds. DSOL (the portion not deposited into Drift, including assets staked to Drift validators) and insurance fund assets are not affected; the latter is currently being withdrawn for protection. As a preventive measure, Drift has frozen all remaining protocol functionalities and updated multisig to remove the compromised wallet.
2、Galaxy Digital’s R&D workspace breached by hackers; losses under $10,000; customer funds not affected
Galaxy Digital (GLXY) recently suffered a cybersecurity incident, where hackers gained unauthorized access to its isolated research and development workspace. The company said the affected environment is only used for research and development and is completely isolated from core infrastructure, production systems, trading platforms, and customer accounts. The loss amount is under $10,000, and customer funds and data were not affected. Galaxy Digital quickly intervened, completed the lockdown and hardening of the affected workspace, and deployed additional protective measures at the blockchain infrastructure layer.
3、ZachXBT criticizes Circle for not taking action in the Drift hack; millions of USDC flow out via CCTP
Well-known on-chain sleuth ZachXBT posted a message criticizing Circle, saying that the Drift hack occurred during U.S. trading hours, with millions of USDC moving from Solana to Ethereum via CCTP (Circle’s cross-chain protocol), while Circle took no action. A few days ago, Circle froze at least 16 corporate hot wallets, which are still slowly being unfrozen. ZachXBT said, “Circle is the bad actor in this industry.”
4、Huione money-laundering network key figure taken into custody; involved amount over $89 billion; crypto underworld hit again
Chinese police recently escorted Li Xiong, a key figure suspected of masterminding the Huione criminal network, from Phnom Penh, Cambodia back to China, where he will face multiple charges including fraud and money laundering. According to official information, Li Xiong previously served as the chairman of the Huione Group and was an important member of the Chen Zhi criminal group. The organization has long provided channels to launder funds for cross-border investment scams such as “pig-butchering scams.”
Investigations indicate that the Huione network is connected to global large illegal online trading systems, with a cumulative volume of crypto assets processed exceeding $89 billion, spanning multiple countries and regions. Previously, U.S. law enforcement agencies launched sustained crackdowns on the related network and seized more than 127,000 Bitcoins, which have a direct connection to the Chen Zhi-operated system.
The operation took place only a few months after Chen Zhi was brought under control, showing that multi-party coordination among China, the U.S., and others to combat cross-border crypto crime has been strengthened. At the same time, China’s public security authorities also disclosed that multiple members of the criminal group have been arrested in succession, and the case is being further investigated.
Although core members were arrested one after another, the related crypto crime network has not been completely eliminated. Multiple independent reports show that the Huione system has resumed operations by changing domains, shifting communication channels, and so on, and continues to maintain activity on platforms such as Telegram. This decentralized, cross-border operating model gives it strong resilience against crackdowns.
Industry insiders say this case highlights the complex role of crypto assets within the money-laundering chain, and also reflects the ongoing challenges global regulators face in responding to new types of financial crime. As regulatory efforts continue to intensify, compliance reviews surrounding the flow of crypto funds are expected to tighten further, and market participants need to enhance risk identification and security prevention capabilities.
5、Australia’s new crypto law is in effect! Mandatory license-based regulation hits; trading platforms face life-or-death division
In 2026, Australia officially passed new crypto asset regulation, bringing digital asset platforms fully under the traditional financial regulatory framework, drawing intense attention from the industry. Under the new rules, all crypto platforms involved in managing users’ funds—including custodians and centralized service providers—must apply for an Australian financial services license and be subject to unified oversight by the Australian Securities and Investments Commission (ASIC).
This policy means the crypto industry is formally moving from relatively fragmented regulation to standardized, institutionalized management. The new framework requires platforms to meet multiple compliance metrics, including capital adequacy ratios, risk control mechanisms, and customer asset protection, aiming to reduce risks such as platform insolvency and fund misappropriation while strengthening investor rights protection.
The direct impact of the regulatory upgrade is already starting to show. For platforms with weaker financial strength or insufficient compliance capability, operating costs are set to rise significantly, and some companies may be forced to exit the market or develop in other regions. Meanwhile, large institutions with a compliance foundation are expected to gain higher market share in the new environment.
From a global perspective, Australia’s move echoes the regulatory trends in Europe and the U.S. Countries are accelerating efforts to legalize crypto assets and try to establish a balance between innovation and risk control. A clear legal framework is often seen as an important prerequisite for attracting institutional capital, which may also drive more traditional funds into the digital asset space, including mainstream assets such as Bitcoin and Ethereum.
However, stronger regulation also brings new challenges. In the short term, the industry may face liquidity contraction and reshaping of the competitive landscape, but in the long run, a more regulated environment can help improve market trust. In the future, as more countries roll out similar policies, the crypto industry may enter a new stage driven by compliance.
6、Russia tightens crypto regulation across the board! Block overseas platforms + bank monopoly—can $15 billion in funds return?
In 2026, Russia is accelerating crypto regulation reforms, trying to ease fiscal pressure through strong policies. According to local reports, due to a significant decline in energy revenues, Russia’s budget deficit is approaching its annual limit. The Ministry of Finance has set preventing capital outflows as a core goal, with the crypto market becoming a key target for crackdown and remediation.
Data shows that Russian traders pay around $15 billion each year to overseas platforms. Regulators hope to redirect this money back into domestic systems. To that end, regulatory authorities plan to implement new rules starting July 1: on one hand, citizens will be prohibited from trading on platforms that have not obtained local authorization; on the other hand, licensed institutions will be charged relevant taxes to strengthen fund retention and regulatory transparency.
At the same time, Russia’s communications regulator is preparing to use technical measures such as DNS filtering to limit access to overseas platforms, and is investing about $29 million to develop an artificial intelligence system to identify and block attempts to bypass regulation. This means the crypto trading environment will be tightened further.
More noteworthy is that the regulatory framework clearly leans toward a “bank-led model.” Market rumors indicate that authorities want commercial banks and domestic broker-dealers to take on most of the trading functions, rather than tech startups. This structure will strengthen the central bank’s control over fund flows and aligns with Elvira Nabiullina’s long-standing stance on prudent regulation of crypto assets.
However, industry insiders believe the strategy has limited effectiveness in filling the fiscal gap. Previously, the tax authorities estimated that the tax revenue generated by the crypto mining industry is relatively small, making it difficult to provide substantial support for the overall deficit. In addition, given the size of the local user base—around 20 million—markets may still remain active via methods such as VPNs and peer-to-peer trading.
Against the backdrop of tightening global crypto regulation, Russia’s move reflects a policy path centered on capital controls, but its actual implementation outcomes remain to be observed.
7、Ethereum is nearing a key level but hiding strong signals! Active addresses approaching historical highs; funds continue withdrawing from trading platforms
In April 2026, Ethereum’s price has faced sustained pressure amid geopolitical tensions, with the drop over the past 24 hours of about 3.5%, briefly falling to around $2,047. U.S. President Trump made tough remarks about the situation in Iran, triggering volatility in global risk assets and causing the crypto market to weaken in tandem.
Despite poor price performance, on-chain data is sending an entirely different signal. Data platform Santiment shows that network activity on Ethereum remains high: daily active addresses are nearing 788,000, while daily new addresses are about 255,000, indicating that user growth has not slowed despite the price pullback.
From an ecosystem structure perspective, Ethereum’s competitive strength in decentralized exchanges is increasing. Coin Bureau data shows that, driven by Layer 2 expansion networks, its DEX market share has risen from 33% in January to 42% in March. In contrast, Solana’s on-chain DEX trading volume has declined noticeably, with its market share shrinking.
Fund flows are also worth watching. Glassnode data shows that the share of Ethereum held by centralized platforms has fallen to about 11%—far below 32% in 2020. This trend accelerated notably in early 2026, reflecting that users are more inclined toward self-custody or long-term holding, thereby reducing short-term selling pressure.
Analyst Leon Waidmann noted that when the price approached $2,000, the market did not see panic selling; instead, some funds chose to keep accumulating. This behavior is often viewed as a bullish signal in the medium to long term.
That said, whether the price can reverse still depends on the external environment. Developments in the Middle East and changes in macro liquidity will continue to affect the performance of risk assets, including Ethereum. At the current stage, fundamentals and price action are diverging, and the market is in a critical contest range.
8、Has the logic for the next bull market changed? Clem Chambers warns: crypto markets will say goodbye to the “token-pumping era”
As the structure of the 2026 crypto market continues to evolve, industry participants are beginning to reassess what drives bull markets. ADVFN founder Clem Chambers said the next cycle may no longer be driven by token hype and sentiment, but instead shift toward real applications and long-term value creation.
Across the past several cycles, the crypto market largely revolved around trading and speculation, with Bitcoin, Ethereum, and various altcoins rising in turn supported by capital flows. But in the current phase, the market is showing clear divergence: institutional capital continues to flow into top assets, while mid- and small-cap tokens face issues such as falling liquidity and reduced attention.
At the same time, another growth path is taking shape. The tokenization of real-world assets, stablecoin payment systems, and expanding data infrastructure that combines artificial intelligence are gradually growing. These areas not only drive on-chain usage, but can also generate ongoing fees and even cash flow—unlike the earlier narrative-driven model.
Clem Chambers emphasized that the industry should move from “financial narratives” to a “product-first” mindset, focusing on the ability of blockchain technology to be deployed in real-world scenarios rather than simply reacting to token price fluctuations. With more and more users using related services, they may not even need to directly interact with the underlying tokens, and this shift is reshaping the path to value capture.
Looking at broader macro trends, tokenized assets and stablecoin applications driven by large institutions are accelerating the integration of blockchains into traditional financial systems. Meanwhile, decentralized infrastructure and AI-integrated projects are also attracting developers and capital.
However, this transition is still in its early stage. In the short term, speculative trading will continue to dominate market volatility, and some application projects still face challenges in user growth and profitability. Going forward, the key will be whether these applications can break out of crypto-native user circles and achieve broader adoption.
The market is gradually sending signals: the era of relying solely on narratives may fade, and projects that truly have utility may become the core driving force of the next cycle.
9、SpaceX files for an IPO: target valuation could exceed $1.75 trillion; hopes to go public in June
SpaceX has submitted a confidential initial public offering (IPO) registration draft to the U.S. Securities and Exchange Commission (SEC), and is expected to officially list in June of this year. This filing would make SpaceX one of this year’s three largest mega-IPOs, ahead of OpenAI and Anthropic.
According to a report by Bloomberg, SpaceX’s IPO funding could be as high as $75 billion, with a target valuation exceeding $1.75 trillion—potentially breaking Saudi Aramco’s 2019 IPO record of $29 billion by more than two times. Insiders say the company has already hired U.S. banks, including Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, as senior advisors to help with the IPO process.
SpaceX is considering adopting a dual-class share structure, which would give internal shareholders such as Elon Musk greater voting power, enabling the company to maintain control over its strategy after going public. A confidential IPO filing allows the company to receive SEC feedback and make adjustments before officially disclosing information, to ensure accuracy in the listing documents.
Despite promising prospects, the listing plan faces uncertainty. Intensifying U.S.-Iran conflict and high crude oil prices have led to market volatility, and investors need to watch how global macroeconomic conditions could affect technology stocks and risk assets. Analysts say SpaceX’s IPO could not only rewrite IPO fundraising records, but also create a benchmark effect for high-tech investing and capital markets.
If this IPO proceeds smoothly, it will further highlight SpaceX’s market value in aerospace and satellite internet, and it may also attract investors in risk assets such as Bitcoin and Ethereum—especially given the ongoing surge in global capital flows and investor interest in high-tech companies.
10、Brent crude surges 60% in March, marking the biggest gain since 1988
In March 2026, Brent crude’s price jumped 60% in a single month, the biggest gain since 1988. This year’s cumulative gain is already about 72%. Such a rapid rise is mainly driven by geopolitical tensions: conflicts in the Middle East have increased worries about potential supply disruptions. Threats to key shipping routes such as the Strait of Hormuz have prompted traders to quickly price in risk, causing major volatility in energy markets.
This surge in oil prices has intensified global inflation pressure. Rising energy costs directly increase transportation, manufacturing, and supply chain costs; companies often pass these costs on to consumers, leading to generally higher prices. Central banks in various countries may therefore tighten monetary policy, further increasing uncertainty in financial markets and putting pressure on economic growth.
High oil prices also affect stock and crypto markets. Investors become cautious in risk-avoidance sentiment, weighing on equities, while crypto assets such as Bitcoin and Ethereum face short-term volatility as liquidity tightens. At the same time, some investors view Bitcoin as a hedge against inflation, creating a complex dynamic where both safe-haven behavior and hedging coexist.
Analysts note that such a high-percentage increase in Brent crude is extremely rare and usually occurs during war, supply shocks, or economic crises—indicating the market is under major external pressure rather than being driven by normal demand. In the short term, oil price movements still heavily depend on geopolitical developments. If the conflict escalates, prices could rise further and increase the global economic burden; if tensions ease, the market may see a pullback, but volatility may not easily disappear.
From a macro perspective, the oil price surge affects not only commodity markets but also the global financial system and crypto markets, highlighting the close link between energy prices, economic performance, and asset prices. Investors should continue to monitor developments and their potential impact on Bitcoin, Ethereum, and global stock markets.
11、Grayscale’s ETFs suck in capital against the trend; outflows from Bitcoin and Ethereum ETFs on April’s first day intensify
On April 1, 2026, U.S. spot Bitcoin ETFs recorded a net outflow of $173.73 million, continuing institutional selling pressure. In March, some funds saw a rebound, but the overall first quarter still recorded about $500 million in net redemptions. Bitcoin fell about 22% in the first quarter, its worst start since 2018.
Grayscale’s products performed differently amid the turbulence. BlackRock’s iShares Bitcoin Trust (IBIT) saw outflows of $86.52 million, Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw outflows of $78.64 million, and the GBTC fund also lost $13.26 million. By contrast, the low-cost Bitcoin mini trust fund (BTC) attracted $10.25 million in new capital, with a fee rate of only 0.15%, maintaining net inflows amid the broad market selloff. As of April 1, the total net assets of all spot Bitcoin ETFs were $87.71 billion, and Bitcoin’s closing price was about $68,176.
Ethereum ETFs faced similar pressure. That day, they recorded net outflows of $7.10 million, with total net assets of $12.21 billion, accounting for about 4.72% of Ethereum’s total market value. Grayscale’s Ethereum trust ETF (ETHE) performed strongly, attracting $17.42 million in inflows, setting a single-day record for the largest inflow, while BlackRock’s iShares Ethereum Trust (ETHA) suffered a loss of $32.26 million against the trend. Despite ETHE’s high fee rate of 2.50%, it still attracted inflows, showing investors are prioritizing long-term value over short-term price fluctuations.
Market participants say that first-quarter outflows from Bitcoin and Ethereum ETFs reflect persistent suppression of risk assets driven by inflation pressure, the Federal Reserve’s monetary policy, and geopolitical tensions from the U.S.-Iran conflict. Whether the market can reverse the slump in the second quarter will depend on the recovery in institutional demand, changes in the regulatory environment, and the direction of overall monetary policy.
Overall, Grayscale’s counter-trend capital inflows show that low fees and structured product strategies can still attract investors, while other large competitors struggle with fund flows—reflecting that institutional investors are adjusting their allocation strategies rather than fully exiting the Bitcoin and Ethereum markets.
12、Trump gets hit back on “zero inflation”; U.S. consumer inflation expectations hit a 7-month high
Latest U.S. data shows growing concern among consumers about inflation, sharply contrasting with President Trump’s claim of “zero inflation.” According to The Kobeissi Letter, in March, U.S. consumers’ inflation expectations rose by 0.7 percentage points to 6.2%, the highest level since August 2025 and also the biggest month-over-month increase since April 2025. The University of Michigan’s 1-year inflation expectations index also rose by 0.4 percentage points to 3.8%, further confirming that price anxiety is intensifying.
Interest rate expectations also increased. The proportion of consumers expecting rates to rise over the next 12 months increased by 7.5 percentage points to 42.4%, indicating that inflation fears are spreading across the broader financial market—not limited to the prices of food and everyday consumer goods. Analysts say this psychological pressure may cause consumers to adjust spending and saving behavior, creating ripple effects on economic activity.
Rising oil prices are becoming an important factor accelerating inflation. U.S. crude oil prices have broken above $100 per barrel. The Kobeissi Letter predicts that if oil prices remain at the current level for two months, the inflation rate of the consumer price index (CPI) could reach about 3.3%, refreshing the highest level since May 2024. The OECD also raised its 2026 overall U.S. inflation forecast to 4.2% and noted that rising global energy prices could push inflation rates for the G20 above earlier predictions.
Disruptions in the oil market have pushed consumer inflation expectations to a multi-month high, showing the widening gap between political messaging and economic reality. Analysts believe that if energy prices continue to stay high, U.S. households will face higher cost-of-living pressure, and financial markets’ expectations for monetary policy may also adjust accordingly, further affecting investment sentiment and market volatility for crypto assets such as Bitcoin and Ethereum.
13、Volatility Shares launches 2x leveraged crypto ETFs around Cardano, Stellar, and Chainlink
Volatility Shares launched three new exchange-traded funds (ETFs) on Wednesday, offering 2x leveraged exposure to Cardano, Stellar, and Chainlink, respectively. These ETFs are designed to amplify digital asset price volatility and provide more precise altcoin investment tools for experienced traders. According to CoinGecko data, as of Wednesday afternoon, the market caps of the three altcoins were $9.0 billion, $6.3 billion, and $5.6 billion, respectively.
In addition to 2x leveraged ETFs, Volatility Shares also released traditional futures exposure funds for these three altcoins, further expanding its crypto asset product lineup. Previously, the company launched 2x leveraged ETFs for Bitcoin, Ethereum, Solana, and XRP, and its first Bitcoin leveraged ETF BITX has had average daily trading volume of about 13 million shares since launch—double Fidelity’s average daily trading volume for its spot Bitcoin fund.
Volatility Shares market analyst Sunny Sun said that this series of ETFs shifts investment strategy from broad market coverage to specific digital asset ecosystems, making it suitable for professional investors seeking targeted exposure. Since spot Bitcoin ETFs debuted in early 2024, crypto ETFs have become an important tool for institutional investors to enter the digital asset space, especially in the relatively more favorable U.S. regulatory environment, prompting issuers to accelerate the launch of leveraged ETFs for various assets such as Solana, XRP, and Dogecoin.
However, the U.S. Securities and Exchange Commission (SEC) has recently clearly imposed restrictions on high-leverage products, requiring issuers to avoid offering 5x leveraged products and issuing risk warnings for 3x leveraged applications. Volatility Shares submitted applications months ago for 27 3x and 5x leveraged products covering crypto and related stocks, indicating that market interest in high-risk strategies remains ongoing.
The launch of these three ETFs not only provides more tools for investors in Cardano, Stellar, and Chainlink, but also marks the crypto derivatives market gradually becoming more segmented, further integrating digital asset investing with traditional financial markets.
14、Metaplanet jumps to third on Bitcoin holdings list; MARA sells $1.1 billion to cash out
Metaplanet (3350) spent about $398 million to buy 5,075 Bitcoins in the first quarter of 2026, bringing its total holdings to 40,177 Bitcoins—successfully surpassing MARA Holdings and moving to third place globally among publicly listed companies by Bitcoin holdings. Currently, it is only behind Strategy (MSTR) and Twenty One Capital (XXI).
MARA sold 15,133 Bitcoins between early March and the end of the month, cashing out about $1.1 billion, to fund a $1.0 billion share buyback of 2030 and 2031 maturity convertible preferred notes. This reduced MARA’s holdings to 38,689 Bitcoins, down significantly from 53,822 at the beginning of the year. MARA explained the move as balance-sheet management, recorded a $1.5 billion impairment provision for digital assets, and accelerated its transition to artificial intelligence infrastructure and data centers.
Metaplanet’s accumulation strategy signals its long-term expansion intentions. In the first quarter, the company bought Bitcoin at an average price of about $78,000 per coin, for a total cost of about $3.9 billion. As of now, Metaplanet’s Bitcoin return stands at 2.8%. Under its “$555 million plan,” the company aims to hold 100,000 Bitcoins by the end of 2026 and increase to 210,000 by the end of 2027. To support continued purchases, the company raised about $255 million through international stock issuance and warrants, with potential additional financing of $276 million.
Despite rising in the holdings ranking, Metaplanet’s share price has not risen in sync. Its closing price on April 2 was 302 yen (about $1.89), down about 2%, far below the peak of 1,930 yen in June 2025. In terms of the lead, Strategy holds 762,099 Bitcoins—more than 18 times Metaplanet’s—while Twenty One Capital holds 43,514 Bitcoins. Other competitors include Bitcoin Standard Treasury Corp (CEPO) and Bullish (BLSH).
As of the time of writing, the Bitcoin price is $66,372, and Metaplanet’s average cost is about 46% higher, showing that despite its holdings ranking improving, its funds are still under loss pressure. Whether Metaplanet can consolidate its third-place position will depend on its financing capabilities and MARA’s future Bitcoin strategy.
15、Bitcoin holding hype cools off; multiple companies and governments sell off BTC reserves at scale
The Bitcoin holding hype is fading. Several companies and governments have started selling their reserves, increasing short-term volatility in the crypto market. Investors that entered in large numbers over the past two years are now exiting, adding pressure to market sentiment.
For example, Empery Digital (EMPD): on Wednesday, the company sold 370 Bitcoins at an average price of $66,632, cashing out about $24.70 million, used to repay term loans, and released about 1,800 Bitcoins that had previously been pledged. The company currently holds 2,989 Bitcoins remaining. Since Empery established its Bitcoin reserves in July 2025, it once held about 4,000 Bitcoins, and its stock price is down 75% from its historical high.
The AI-driven Bitcoin education company Genius Group (GNS) has also cleared all of its Bitcoin reserves. Recently, it sold the remaining 84 Bitcoins to repay $8.5 million in debt and said it will replenish reserves when market conditions improve.
Large mining company Riot Platforms (RIOT) is also continuing to reduce holdings. On Wednesday, it sold 500 Bitcoins valued at about $34.13 million to support its transition toward AI and high-performance computing operations. In the last two months of 2025, Riot sold about $200 million worth of Bitcoins, and its current holdings are about 17,500 Bitcoins, keeping its Bitcoin reserves among the industry’s top positions.
Meanwhile, the government of Bhutan continues to reduce its Bitcoin holdings, having sold a total of 3,103 Bitcoins. Just one transaction on March 30 liquidated 375 Bitcoins, further lowering its holdings. Previously, through state-supported mining projects, the country reached a peak in October 2024 with more than 13,000 Bitcoins.
Despite market concerns sparked by recent selloffs, publicly listed Bitcoin treasury companies still hold about 1,164,800 Bitcoins, representing more than 5% of the total supply. As of the time of publication, Bitcoin is trading at about $66,500, down more than 2% from UTC midnight, indicating that short-term market sentiment still faces pressure. (CoinDesk)
